Correct classifications provide the cornerstone for many trade agreement rules.
Durham, NC (PRWEB) May 16, 2017
AudioSolutionz, a division of audio conference and corporate education leader ProEdTech, will host the live webinar “Trade Classification: Harmonized Tariff Schedule (‘HTS’) and Schedule B” with industry veteran Randi S. Waltuck Barnett on Wednesday, May 24, 2017, at 1:00 pm ET. This session will focus on customs classification of products under the Harmonized System and Schedule B.
Customs classifications are complex and often not intuitive. Learning the best ways to navigate the legal rules and best practices to properly assign trade classifications to internationally traded goods will provide accurate rates of duty and improved financial forecasting, and avoid potentially damaging penalties for non-conformance. Correct classifications also provide the cornerstone for many trade agreement rules; therefore, inaccurate classifications can have a cascading effect throughout the global supply chain. It also helps to avoid those potential pitfalls.
This session by expert speaker Randi S. Waltuck Barnett will discuss the classification systems, what the legal rules are for applying them to the globally traded goods, and how best to meet the legal standard of exercising reasonable care when assigning classifications to imported and exported merchandise. It will further discuss how to avoid significant potential penalties for material violations, and how to assure best practices for trade compliance by understanding this business-critical, complex area of customs law.
The session will discuss:
- The global Harmonized System
- Anatomy of a trade classification number (chapter, heading, subheading, and beyond)
- Legal rules of trade classification, including:
o General rules of interpretation (“GRIs”)
o Section notes
o Chapter notes
- Additional classification tools beyond the legal rules to help in classifying goods
- Best practices for researching and documenting assigned trade classifications, to meet the “Mod Act” requirements
- Agent management methods to ensure that government declarations are accurate
- Best practices for creating internal controls around import-export classifications
- Post-transaction self-assessment methods
For more information and to register, visit: https://www.AudioSolutionz.com/trade/trade-classifications-harmonized-system.html.
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